Britannia Life Sciences Inc. announced the closing of a £5,000,000 loan facility (the Loan Facility). The proceeds of the Loan Facility will be used to repay, in full, the remaining amounts due to the vendors of Advanced Development & Safety Laboratories Limited (ADSL) under the sellers' note agreement (Sellers' Note) and to fund the acquisition of an additional 10% interest in ADSL (Additional ADSL Purchase). Upon completion of the Additional ADSL Purchase, Britannia will own a 70% interest in ADSL, Britannia's largest operating subsidiary.

The Loan Facility consists of a 5-year secured term loan facility bearing interest at varying margins based on the Sterling Overnight Interbank Average (SONIA) rate. The Loan Facility was fully drawn by Britannia at closing and currently bears interest of 9.5%. There were no equity incentives provided to the lender with respect to the loan.